(Alliance News) - Audioboom Group PLC on Tuesday said 2021 revenue will be "significantly in excess of current market expectations" after strong advertising sales in the first half of the year for the podcast maker.
Shares were up 0.3% to 885.00 pence in London.
Signed advertising bookings in the year to date have reached 99% of what the market expected for revenue for the whole year, Audioboom said.
The company added that adjusted earnings before interest, tax, depreciation and amortisation are set to increase from the 2020 level. Last year, Audioboom made an adjusted Ebitda loss of USD1.7 million.
The strong performance in 2021 has been driven by improved advertising technology and high demand, allowing Audioboom to increase prices by 22%.
Meanwhile, the firm is producing hits such as Dark History, which went to the top of the Apple Podcast Chart after launching on June 2.
This comes as a reiteration of a previous trading update by the company in April, when it first announced that it expects 2021 revenue to be "significantly ahead of current market forecasts".
By Ivan Edwards; ivanedwards@alliancenews.com
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Audioboom Grp. (BOOM)